Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Nigeria demands Turkey’s apology over ‘unjustifiable’ students deportation in coup crackdown

Nigerian lawmakers have urged the Turkish government to apologise for arresting and deporting dozens of Nigerian students. The majority of the youths attended the Fatih University, which is among thousands of educational buildings Turkey has shut down in a crackdown following the failed coup.

Erdogan’s diplomats have become ‘Gulenist-busters’

A diplomat told me that there was no way he would do what Tayyip Erdogan was asking him to do. It was against everything he held dear: chasing one’s own citizens without any credible evidence. Soon, many diplomats who refused to turn into Gulenist-hunters were not promoted, demoted or, worse, expelled from the ministry.

Scholars: Misconceptions of Islam still abound

SEVGI AKARÇEŞME, İSTANBUL The subject of misconceptions of Islam dominated the debates at the international conference organized by the Foundation of Journalists and Authors (GYV) and Fatih University in İstanbul today. The event, titled “The Practice of Coexistence in Islamic Civilization and Contemporary Interpretations,” started on Friday with the participation of international scholars and leading […]

Astonishing questions about the failed coup attempt in Turkey

Many people watching the stunning events in Turkey believe that the coup attempt was nothing but a pure ‘theater.’ The leader of the coup was a pro-Erdogan General Mehmet Disli, brother of AKP deputy Saban Disli, who defines himself as Erdogan’s confidante. The poorly-planned coup attempt has started with the capture of Istanbul’s Bosporus Bridge. […]

Mother of four under detention for months on coup charges

A tweet posted by Ömer Faruk Gergerlioğlu, an academic and a columnist for the t24 news website, revealed that a Turkish woman with four children has been kept in pre-trial detention for nine months on alleged links to Turkey’s Gülen group.

Yalçınbayır: Turkey has tendency towards institutionalization of bribery, corruption

Former Deputy Prime Minister and a former leading member of the ruling Justice and Development Party (AK Party) Ertuğrul Yalçınbayır said on Sunday that bribery and corruption have always been in Turkish politics and that there is a tendency toward the institutionalization of such crimes in the country.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkey’s Wrong Turn

An unshakable spiritual unity, unique to Hizmet Movement volunteers

Catholics, Hizmet bring faiths closer in the US

Aid delivery to Gaza continues under bombardments

Turkey Has Stolen The Future Of A Medical Student From Uganda

GYV praised for response to accusations about Hizmet movement

Conference endorses Gülen’s ideas as guides for Nigerian education system

Copyright 2026 Hizmet News